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Inspection Machines Market Size

Report ID: GMI5865
Published Date: May 2023
Report Format: PDF

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Inspection Machines Market Size

Inspection Machines Market size was valued at around USD 841 million in 2022 and is estimated to reach USD 1.45 billion by 2032. The rise in the number of regulatory mandates to maintain GMP compliance in the healthcare industry, as well as rising pharmaceutical and biotechnology R&D costs, are likely to drive the market growth.

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In addition, increasing product recalls are expected to fuel the market demand. Furthermore, the increasing number of inspection checkpoints along the manufacturing line is expected to buffer the market expansion. On the other hand, the rise in the demand for reconditioned equipment due to the rising cost of inspection machines is expected to hinder the market revenue.

Moreover, continuous advancements in the inspection machine technology contribute to market progression. These advancements include improved sensor technologies, high-speed imaging, machine vision systems, data analytics, and artificial intelligence. The integration of these technologies enhances inspection accuracy, speed, and efficiency, enabling manufacturers to achieve higher levels of quality control and process optimization. Also, increase in the number of production facilities in developing nations would give significant prospects for the growth of the market in the coming years.

Inspection Machines Market Report Attributes
Report Attribute	Details
Base Year:	2022
Inspection Machines Market Size in 2022:	USD 841 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 1.45 Billion
Historical Data for:	2018 to 2022
No. of Pages:	192
Tables, Charts & Figures:	398
Segments covered:	Product, Type, Packaging type, End-user, and Region
Growth Drivers:	Increasing regulatory compliance with good manufacturing practices Growing product recalls Increasing focus on food and drug safety by FDA and other regulatory bodies Increasing growth in pharmaceutical market Increasing inspection checkpoints during the manufacturing line Growing mandates to maintain GMP compliance
Pitfalls & Challenges:	Increasing adoption of refurbished equipment High initial investment

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for inspection machines was valued at around USD 841 million in 2022 and is estimated to reach over USD 1.4 billion by 2032, owing to the rise in the number of regulatory mandates to maintain GMP compliance in the healthcare sector, as well as rising pharmaceutical and biotechnology R&D costs.

The fully automated inspection machines segment held 42.5% market share in 2022 and is expected to grow at a significant pace during 2023-2032, on account of increased productivity & efficiency, improved inspection accuracy & consistency, regulatory compliance, and quality assurance.

North America inspection machines market will present significant opportunities in coming years, owing to technological advancements & innovations in inspection machines, growing pharmaceutical and medical device industries, and stringent regulatory standards.

Omron Corporation, Mettler-Toledo International Inc., Cognex Corporation, Keyence Corporation, Thermo Fisher Scientific Inc., Anritsu Corporation, Teledyne Technologies Incorporated, Sartorius AG, and Ishida Co., Ltd. among others.